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  • Morning Bell: Americans Are Fleeing Obama's Crony Capitalist Economy

    Today the Bureau of Labor and Statistics released its monthly jobs report showing that the U.S. economy added only 103,000 jobs this December. With the unemployment rate now at 9.4%, this marks the 20th month in a row that the unemployment has been over 9 percent, a post–World War II record. You are going to hear a lot of noise from the White House about how this drop from a 9.8% unemployment rate to 9.4% means the economy is in a strong recovery. This is false. The reality is that the only reason the unemployment rate dropped is because the U.S. labor force decreased by 434,000. More importantly 260,000 Americans dropped out of the labor force entirely. This means that the Obama economy is now driving Americans out of the labor force faster than it is bringing them.

    This Tuesday, White House Press Secretary Robert Gibbs tweeted out: “General Motors Co.’s sales were up 21 percent in 2010 for its four core brands.” Which is some interesting spin. As The Truth About Cars points out, GM’s retail market share for all of their brands actually fell a full 1.8 percent in 2010. So why is the President’s closest communication aide doing PR for what is, supposedly, a privately owned car company?

    Yes, the Obama Administration did sell off a majority stake of their ownership of GM this November (at a $10 billion loss to taxpayers), but that still leaves them owning about a 37 percent share in the company. In other words, our government is still part owner of a supposedly private car company. And that is not the only continuing link between bailed-out GM and the Obama Administration. The Obama czar who oversaw the GM bailout, Ron Bloom, was just named the new czar for all of manufacturing policy at the White House’s National Economic Council (NEC). So we can expect to see continued favoritism for GM and its bailed-out brothers from the entire Obama Administration.

    The manufacturing industry is not the only sector of the economy where the Administration has installed a bailout revolving door. Over just the last two months, the Obama White House has sent budget director Peter Orszag to Citibank ($306 billion bailout), taken in Gene Sperling as NEC director from Goldman Sachs (beneficiary of the $173 billion AIG bailout), and added former Fannie Mae ($135 billion bailout so far) lobbyist and JPMorgan ($12 billion bailout) executive Bill Daley as President Barack Obama’s Chief of Staff. There is a phrase for an economy that is so dependent on close relationships between business people and government officials: crony capitalism. And it is strangling our economic recovery.

    There is a better way. Instead of relying on bailouts, subsidies, tax loopholes, and regulations to pick and choose which politically connected firms succeed or fail, government should unleash entrepreneurs to create jobs through true free enterprise policies. Specifically, Congress should:

    • Rescind unspent stimulus funds;
    • Reform regulations—specifically repealing Section 404 of the Sarbanes–Oxley Act—to reduce unnecessary business costs;
    • Remove barriers to domestic energy production;
    • Suspend the job-killing Davis–Bacon Act and prohibit Project Labor Agreement requirements on federally funded construction projects;
    • Conclude the pending free trade agreements with Colombia and Panama, as well as the recently announced agreement with South Korea; and
    • Reduce taxes on foreign earnings to encourage companies to repatriate the profits to America.

    According to James Sherk, Karen Campbell, and John Ligon of the Center for Data Analysis, adopting these measures increase real gross domestic product by an average of $56 billion a year between 2011 and 2020, reduce the national debt by $305 billion by 2020, and increase job growth by 305,000 a year between 2011 and 2020.

    This past June, marking the first anniversary of the Obama Administration’s destruction of our nation’s bankruptcy code, Indiana Governor Mitch Daniels (R) warned: “The nation is not safe from crony capitalism. In the past year we’ve experienced the nationalization of the student loan industry and the passage of national health-care and financial-services regulation, each of which is rife with new opportunities for government favoritism and preferential handouts to favored corporations like Chrysler.” Our economy will never reach its full potential as long as the best way to succeed in business is to succeed in Washington.

    Quick Hits:

    • House Judiciary Committee Chairman Lamar Smith (R–TX) issued a letter to the Justice Department yesterday informing them that the House will be investigating allegations that the Civil Rights Division has engaged in race-biased enforcement of the National Voter Registration Act.
    • Forty-six Republican House Members and one Democrat joined sponsor Marsha Blackburn’s (R–TN) bill that would block the EPA’s new global warming regulations.
    • Representative Steve Scalise (R–LA) and 28 other House Republicans introduced legislation to rein in the various “czars” in the Obama Administration.
    • Republican governors are pressing the Administration to make it easier for states to cut Medicaid spending.
    • The Democratic-controlled Illinois General Assembly has reached agreement with Governor Pat Quinn (D) to raise income and corporate taxes to help eliminate a budget deficit of at least $13 billion this year.
    Posted in Ongoing Priorities [slideshow_deploy]

    55 Responses to Morning Bell: Americans Are Fleeing Obama's Crony Capitalist Economy

    1. Spiff says:

      Many will blame capitalism for the problems we, the USA, are going through, and push for a socialist society…But the problem is not with our system of Government, or our financial structure, it is with blatant corruption brought upon us by a group of individuals who have lived on public assistance from birth who are now creating a world for themselves at our cost! This system they are creating is commonly called a dictatorship! And we, Republicans, Democrats, and "Independents" are allowing it to happen! Shame on us!!


      • jsallit says:

        That's only because their education is so bad that they don't even know what fascism is…and obviously wouldn't know it if it bit them. Which it is.

    2. George Colgrove, VA says:

      Jobs added were likely seasonal retail jobs for Christmas shopping. Early reports are showing Christmas spending feel way short of expectation, which counters the reports the drive-by media gave during the supposed peak of the shopping.

      If they reported the exuberant shopping that occurred in the greater DC area, I can see why they were hopeful. Nearly every mall or shopping center in the very well to do tax payer supported DC area were shoulder to shoulder. I suspect elsewhere the tumbleweeds were rolling about in the dusty winds.

      I predict that the January numbers will be 0 jobs added and will show more than 103,000 jobs lost.

      Had that money the federal government extorted from the hard-pressed taxpayers stayed in the taxpayer's hands and not spent in such a small-consolidated area, maybe that 103,000 would be hopeful. However, the federal government in a desperate attempt to obfuscate the facts to keep their gravy train going uses these numbers to give false hope.

      Since 9/11/01: the taxpayer supported greater DC area household incomes went up 32%, the rest of us lost 5%!

    3. Ken Jarvis - Las Veg says:

      Jobless rate falls from 9.8% to 9.4%.

      Give Murdoch Credit.

      I have been telling you for Months

      when Murdoch decided to let the Recovery START –

      it will START. –

      It Started Sept 21.

    4. Doouble Ace says:

      The people didn't sign up for this, and that is why they are junping ship. I think the new House needs to reign in the Obama czars. American voters didn't elect them and resent them setting policy that affects our daily lives. This isn't the Soviet Union (Russia) and we don't need czars.

    5. Peter Vanderzee, Atl says:

      Unleashing pent up entrepreurial drive is the ONLY way to stimulate our economy. Government can't and never has "created" anything, much less a job. But they can provide the conditions which spur entrepreneurs and investors to take risk. My suggestion is to eliminate capital gains taxes for the first 10 years of any new enterprise, allowing the risk takers, both entrepreneurs and investors (typically angels at that stage) to reap outsized rewards for investing their time, money and talents into enterprises that will – literally – create jobs.

    6. freedom says:

      I would have liked included in your list of things to do that congress authorize the selling off of our government's share of Chrysler and General Motors to the private sector. Why are we subsidizing cars that no one wants? Let those companies compete in the market like everyone else has to.

      Off topic, it also makes me laugh when liberals defamed Bush for "manipulating" prices at the pump and making them go up. If I tried to say that it was summer and more people drive, they scoffed. Now that it is winter and people drive less and prices are over $3.00 and threatening to go up to $5.00, these same people don't want to hear of criticizing Obama for that.

      I say this because, Ken Jarvis, your remark is not correct. The economy will rebound when taxes are lowered, regulations are lowered and spending is drastically cut. That is what I believe.

    7. Mary............WI says:

      Unfortunately, the biased media gives this latest unemployment report a positive thumbs up……HAH! Most of that hiring was for the holiday shopping season. M ore than likely it will shoot back up again……and with inflation just around the corner unemployment might jump even higher. If the news media would just be honest about what they report this country would understand what they've lost and truly proceed with repairing all the damage Obama and the dems have made the past 2 years. Stop Spending!! Be Honest when reporting your economic numbers! And QUIT the special favors for those that worship the ground Obama walks! Onward to 2012 with a president that respects the American people and is enthusiastic and sincere in restoring honor to this country in every way.

    8. William Downey, Worc says:

      But isn't nationalisation a hallmark of socialisim? This has been the agenda of President Obama all along, to put more power into the hands of the Executive Branch.

      My perspective is that POTUS sees his job as (1) reducing the US leadership role in all areas (2) building a Chavez like state (afterall several of his friends and associates are greatly admire Hugo).

      His "enlightened prince" attitude is seriously damaging not only the economy but our ability to defend ourselves. They are masters of illusion.

    9. Rich Philly says:

      Kinda makes me chuckle now when someone brings up Cheney/Haliburton.

    10. Will, Texas says:

      A fast, strong, fair, lucrative way to vastly enhance our economic situation and world opinion is to pass The FairTax, H.R. 25/S.296; http://www.fairtax.org . It needs Heritage Foundation support to educate the public.

      The FairTax is Win-Win.

      The advantage of The FairTax to the politicians is that they will have more money to spend than they could ever imagine and without complaint from constituents because they, too, would have more money to spend than they could ever imagine.

      A comparison chart of the current tax system, The FairTax, Flat Tax and Value Added Tax is sorely needed.

    11. Blair Franconia, NH says:

      Until the Orange Revolution in Ukraine in 2004, that country had crony capitalism.

      Obama should do well to remember this.

    12. don,TX says:

      It doesn't take a rocket scientist to know that a poultry farmer wont last long if he uses foxes to guard his hen house.

    13. Jeanne Stotler,Woodb says:

      I agree with Geo. Cosgrove, these jobs were seasonal for te Christmas season. When this is admitted to they will find that the % has not changed or gotten worse. BHO will be on the TV taking credit for the jobs and exploiting his administration, he is like the ostrich with his head in the sand. I guess if I could take frequent vacations, have a jumbo plane, helicopter etc at my beck and call I'd think that the world wasall Peaches and Cream too, but he needs to wake up to reality and see he has been and continues to be a big failure for this country, he thinks he is a dictator, here we are a Republic, no dictators allowed.

    14. Jim Delaney says:

      The chicanery and subversiveness of this administration is breathtaking, alarming, and nearly overwhelming. Any American who isn't genuinely angry and scared is either deaf, dumb and blind, or a party to America's dissolution. Thank God for Heritage. Sure hope you're routinely sharing your views with the GOP leadership.

    15. GiveAwayJimmie, Lans says:

      We in " Fly Over " part of country, would be impressed with unemployment numbers this low—-However, if one listens to the MSNBCs daily— "Love Fest" they have with each other and the administration—-"I'm sure" I will see the light and become a "BELIEVER" in economy is improving—and that I should "BOW" to Obama saving us.

    16. Earl, QUEENS, NY says:

      To all the morons who still believe BHO’s ‘Blame Bush’ drivel, they should ponder on the facts. First, the unemployment rate has been above 9% for 20 months, the longest period since the final years of the Great Depression. Second, BHO has been POTUS for the entire 20 month period. His projection that the $787 billion stimulus/porkulus bill would keep the jobless rate no higher was obviously wrong. Third, during most of GW Bush’s tenure, the jobless rate was far lower than 9%. It didn’t even get close to 9% until the end of Bush’s tenure – after the disastrous 11/4/2008 election, presumably because many businesses and investors knew what a disaster BHO would be. Finally, even if McCain had won, I’m sure the recession would be over, and the unemployment rate would be way below 9% by now. Ergo, a large % of American voters should pat themselves on the back for their foolish mistakes on 11/4/2008!!

    17. KC - New Mexico says:

      Granted, many of those without jobs are continuing to search, get additional training, etc., to be marketable and to hopefully gain employment. I fully support their efforts! However for many unemployed, with the administrations deal and Congress's approval of the continued unemployment benefits, why try hard to get employed. Why not just take a month off or longer since the government is subsidizing the unemployed.

      Additionally, indicators of the job market showing improvement need to consider the large amount of part time holiday jobs in retail that begin to drop off in January. I expect the unemployment number to rise again to >9.5% in Q1 of 2011.

      There are jobs out there in the work place – just check out the web postings and classifieds. When you do not have any money coming in, no subsidy from the government, those unemployed will go and get a job to survive. It may not be the best job in the world, and may not be in the education field of the individual – but it is a job and the individual is working. Instead of waiting for the government subsidy, get a job and get back to work. Opportunities are there if you work at it.

    18. Bernard from Michiga says:

      As an ex-union official I can suppport your entire post. Since we must be nice in here (I agree with that) I will not name either the union or the local that I worked at but I can tell you of harassments and threats that I know took place. I had them given towards me by the union officials higher then I. Ihave sat in contract negotiations and know of the huge sums of money given to both union and mgt. to work together . I believe it is done for the purpose of a NWO and distruction of the workplace first. The destruction of the nation will simply follow suit because of the circumstances.

    19. Oygevalt says:

      I'd like to add one other to the list: Defund all allocations expressly related to funding Czars and their staffs. Starve the beast!

    20. Jim Delaney says:

      Doouble Ace,

      You're half right. This is isn't the Soviet Union—-YET!

    21. Alan says:

      As someone still in the official economy, I empathize with people either driven or drawn to engage in the underground economy free of the intrusion and taxation of the official economy. It would seem the underground economy is closer to the free market economy we desire. Unleashed from the constraints and impediments of the state controlled economy. While still in the official economy, I am restraining my spending which has the affect of reduced sales tax to the government, but also the result of less income to merchants and their employees. So, as the official economy is driving people into the underground economy, so too is the state economy slowly constricting itself through the pressures it imposes on producers and consumers still captive in that model. I wonder if the potential income of the non-state economy combined with the pressures of the official economy would compel businesses to operate in that area of the economy?

    22. Tom Wood, Hickory Hi says:

      WOW! The jobless rate went down to 9.4%, they must be basking. Oh yeah, obama said it wouldn't go above 8%! Guess he forgot about that. Tell the millions without jobs and are loosing everything, how great it is to be at 9.4%!

    23. Ramon Espinosa de lo says:

      IT took November for 48 States to wake up,CA &NY are still in the dream state and paper wise they are near the swap IOU's stage.

      Americans need to read about every elected Rep/Democrat and have a report on all their activities the glory ride is finally over.

      This President will go down in History as an example of how dumb we were to elect

      a Labor activist from Chicago who never had a job but political pose , but don't blame him the operators who recruited and sold the American public Apple pie should be listed in Web 2.0 ; they are the dark side of this article. We need to expose special interests,pork, and favors that pull down our Nation.

      Start with the Czars and go forward.


    24. Henry says:

      We must shut down our war machine. AMERICA will continue to self destroy with their war games. AMERICA has done more than any other nation to help people control their lives. We have spent trillions of dollars in Africa, and still nothing to show for all the money, the same has happened in Pakistan, Afghanistan, Iraq, and the list is too long.

      Let's get back to helping AMERICA. Zero borrowed money to foreign countries.

      Put AMERICAN people back to work. It's not about service jobs. AMERICANS CANNOT LIVE SERVING EACH OTHER. We cannot live serving the big bankers, the multimillionaire CEO'S 's that is ripping our economy to shred. Like our TVA"s CEO'S. AND our government goes along with their millions in pay.

      What is our Senators and Congressmen receiving from the MULTIMILLIONAIRE'S? I WAS ALWAYS TOLD NO ONE IS INDISPENSABLE. This is the same with all our government workers, all our teachers, with tenure for life. They should be made to retire after 25 years. Zero tenure. So they went to college, so has the majority of people out of work today.

    25. BDLSr. SF CA says:

      At what point does croney capitalism start to become fascism?

    26. Pete, California says:

      No "Bail-Out" for Obama !

      "COMRAD OBAMA" has had enough time…We need to see his BIRTH CERTIFICATE, or he is simply not our president !

      Before this muslim completely destroys America…we need to IMPEACH OBAMA NOW !

    27. serendipity, GA says:

      Hooray for GM. They sold off some of their stuff and it only cost you and me $10,000,000,000.

      Want to save money, Government? Here's how.

      Cut Congress' overpaid salaries.

      Government, who takes away from most of us in order to provide SEIU with benefits we cannot afford for ourselves, can and should at least freeze union members' incomes and benefits until closer to non-government union employees.

      Get rid of lobbyists. How? Scrap the current Income Tax 'system' and bring on the FAIR TAX.

    28. Pingback: Michelle Malkin » “9.4%” unemployment rate — with an asterisk; underemployment at between 16-19 percent, labor force shrinks

    29. randydutton says:

      E15 causes so much damage to cars according to the auto and motor manufacturers, and admitted by the EPA, that it MUST be a reward to the UAW and Government Motors as a way to force the purchase of new cars. This is a back door way to boost the GM stock and increase union jobs. But it drains consumers of discretionary funds as they must fix or replace their cars.

      The EPA resisted political efforts to approve E15 but gave in in 2010. But they limited it to 2007 and later model cars. Ecopoliticians are trying to force the EPA to approve it for pre-2007 cars. E10 is bad enough, but E15 WILL make millions of older cars into junkers, while concurrently destroying air quality as it burns out catalytic converters.

    30. Jeffries, Texas says:

      Wow, this article laments "poor" job growth while at the same time advocating the job destroying policy of more free trade. Can you say, "hidden agenda"?

    31. Lew Richards Palm Ba says:

      Obama has no effective or serious plan to improve our economy. He is pleased with his plan to destroy our economy so why would he know how or even want to see America become stronger? Obama is our enemy! He hates Capitalism, hates Freedom, hates our Constitution and the limits it puts on despots and their policies.The radical liberal press and media is nothing put a large group of anti- america agents of socialist, marxist, facist, etc. , the same enemies we have been fighting for 234 years.

      GOD BLESS AMERICA and protect us from obama and his evil doers!

    32. toledofan says:

      The Democrats own the majority of the problems and it's obvious that if Pelosi and Reid were still in charge we'd be moving to anarchy. Unabated for over two years and the destruction to the economy has been to say the least devastating. Here is what really stinks, listening to the Democrats, especially Pelosi during her turning the gavel over to Boehner, she made it sound like all was fine on the yellow brick road; we're good, healthy and wise and for sure better off because of the Democrats, holy toledo, she really must have been in the sauce. Can you believe even to this day, they can still lie with a straight face.

    33. Brant Westbrook Wich says:

      how about repealing Sarbanes-Oxley all together. and get rid of mark-to-market accounting all together while we are at it.

    34. California says:

      The above figures are so so-but allow drilling everywhere and you see the tripling of those figures. We would not only be energy independent of Arab oil, but could go into competition by selling oil world-wide. So, if one really wants to see economic security and the deficit come falling down-then establish an energy program that will allow all of the energy programs to flourish free of legal battles by making the need to become a survival law and a national and state run partnership. If this country were free energy wise then the stability of the USA economy would be above the historical numbers and people wouldn't have a problem with immigration and US jobs. Energy developement is the key to a quick recovery and our enemies know this-and the enemies are; Communists, Socialists, Liberal Enviornmental Wackos, Democratic-Facists, and yes those same old RINOs. These are the enemies of the USA and its stability-both financially and the security of the Institutions. Lets put the mark on those that block every move of positive stability, and not allow these people to be in power ever again-unless you just want to get along and remain in the worse situation that the US has ever been in-let the enemy lul every one to sleep and take our freedoms away.

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    36. Jim-MN says:

      Let's see if HF is going to post this instead of black balling selected bloggers. Maybe if I spoke like Ken Jarvis everyday, they would post me.

      HF does censure.

    37. Invictus says:

      Yes, it was "only" 103,000 NFP jobs. Funny thing is that number was higher for only 34 of 96 months under W.'s watch. Morale of the story: Know the facts before you run your mouth.

    38. Ken Iowa says:

      It's all about Obama Doma's rage against America. All you have to do is google "Roots to Obama's Rage" and learn where he is coming from. Besides, where is that real birth paper instead of a certificate. Must be someone else running the government in the back ground.

    39. John, Brielle NJ says:

      Generally I agree with the views of this publication but in this case the part about GM is just plain wrong. With 1 in 7 jobs being tied to the auto industry what were we supposed to do, let them close up shop? It just could not have been let to happen. How they are favored is also something I'd like to know more about. Most countries worship their manufacturers, in the US we seem to think it's ok to buil;d everything overseas or have foreign owned companies build our things for us here. Who will too up in the event of a war as GM/Ford/Chrysler did during the WW's?

    40. Plays in Peoria says:

      Too bad liberal media does not focus on the drop out factor of our labor force. We always figure that you need to add 5% to the unployment number to get an accurate picture of what is going on.

    41. Pingback: Morning Bell: Americans Are Fleeing Obama's Crony Capitalist … : PlanetTalk.net - Learn the truth , no more lies

    42. Yellowbird says:

      How many times have we heard the economy is headed in the right direction from this corupt administration.? ARE YOU READY FOR THE NEXT OBAMALIE ?

    43. Leon Lundquist, Dura says:

      What is dazzling today is the complete misreporting of the facts, as if the Demo-crats (Demolition Plutocrats) have their new year plan: "Destroy the credulity of the stupid Americans by audacious lies!" I thought it was marvelous how the CBO figures were so manipulated that Nancy Pelosi gets away with a trillion dollar lie. Point of fact, these lies are not ever being cleaned up by the Captive Media! They clearly intend to lie to the American People, that's a Democratic Party Policy! More mud up against the wall! It is part of their criminal intent to continue to usurp Representation in America.

      Now it is "Bipartisanship!" and gosh! Demo-crats were never bipartisan before. It is just a deception. They have no intent of actually serving American interests. The point is to soften the rehetoric, but under the surface Obama is full steam ahead, "Communize America!" It is not even vaguely in the American interest for the Right to cooperate with these crazy, criminal, unconstitutional thugs from Chicago.

    44. Bruce J. Kolinski says:

      I believe the term "Croney Marxism" would be a bit more appropriate.

      Though slow I did graduate eighth grade. 103,000 is not 0.4% of 14.5 million unemployed. This country is lost.

    45. Vesta Edwards, Oklah says:

      I understand since Obama became our President there has been a consistent creation of new jobs each month since January, 2008. There have been more new jobs created in 2 years than in most of the 8 years of the Bush administration. Perhaps this may be due to the tremendous number of jobs lost during the Bush administration. The recovery of this economic downturn of the former administration has been on a slow but steady process. Let us not allow anything to occur to deter or to destroy this recovery.

    46. Denver, Oklahoma says:

      We need to finish what started in Nov. but it may have to wait 'til 2012. Too much criminal propaganda has to be reversed.When we have an honest govt., we'll develop every hydrocarbon resource, build ten new refineries and a like number of new nuclear powerplants and we won't have a concern about unemployment. And if the new honest govt. passes the Fair Tax our economic and national debt problems will be over too. We ended slavery, we can overcome the intrenched dishonesty and embezzlement present in the present govt. But only if GOD truly blesses the USA! We don't have it in us by ourselves.

    47. Paul Burgener, Virgi says:

      To help the US economy, we need to get more companies to base their Head Quarters here. To get them to move (or return) here, we need to stop punishing them with high corporate tax rates, which drive their retail prices up. While we're at it, why not eliminate income taxes all together. Stop punishing production, and change the tax collecting system to one based on consumption. We need a national sales tax to totally replace the income tax. We need Ron Woodard's HR25, the FairTax.

    48. Janiew says:

      Just think. Nuclear power for our electric needs- residential and commercial- which frees up all the natural gas and oil reserves for transportation usage and other commercial endevors- plastics etc. We as a country have the means and the natural resources to make this happen.

      We would really then be energy independent and could tell Chavez, Saudi Arabia and their ilk to go pound sand.

      How about it America. Let's get it done. We can do this.

    49. Clif Carothers, Sara says:

      During the previous twenty bubble years, American employment was kept artificially high by service jobs financed through consumer borrowing. In the meantime, American based multi-national corporations continued to construct modern plants in other countries to produce goods to be sold in America. One of the chief drivers for foreign investment was lower labor costs.

      When the bubble burst, America was left with stagnant high unemployment that appears likely to last another decade. And without the modernization of plants in mature industries that was afforded other nations during our bubble years, we are now even less competitive globally. As a long term strategy to reverse this trend, the United States is and should invest in stimulus projects that will help to grow national core skills in strategic industries while providing near term temporary employment.

      However, this strategy will not return us to full employment quickly and will not repair the mature industry infrastructure investment drain to other countries. There is no reason America should continue to incentivize infrastructure investments to go abroad when we have a structurally underemployed workforce. In addition to betting on strategic industries, we must have a national strategy for bringing mature industry investment back to America and for employing all Americans.

      Instead of taxpayers investing an additional sixty billion dollars in the extension of unemployment benefits while jobs continue to be exported, can we choose to invest those dollars in one-for-one job creation? For those industries that are marginally non-competitive in the United States due to labor costs, can we help those industries to become marginally competitive through the subsidized employment of our currently unemployed? I am not suggesting that we institute protectionist industry specific subsidies and trade barriers. I am however suggesting that employing all Americans through my voucher plan can provide a free market incentive to flow workers to those industries that can best benefit from lower cost labor.

      My voucher plan can make businesses more competitive globally, creating incentive to reinvest in American manufacturing infrastructure. The idea is simply this. Government can partner with business to replace extended unemployment payments with a hiring voucher plan. Businesses can hire voucher employees at their unemployment rate. In return, voucher employees can work twenty five hours per week and receive the same pay they would have received through unemployment. The Federal Government can then reimburse employers the employees’ wages without increasing the unemployment budget.

      Currently unemployed workers can continue to seek full employment while helping companies that can benefit most from lower cost labor to compete globally. Through the free market, tax dollars are directly infused into businesses to maximize global competitiveness. Please share your thoughts.


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    51. ckirkland says:

      Let' make the countries that we are helping to protect pay for the service, all of them, Germany, Japan, Iraq, So. Korea etc all of them. If they don't sell our products we won't buy theirs is plan #2. Simple plan. CK

    52. George Colgrove, VA says:

      Update unemployment soared today. The media and the government lies. numbers reflect the people let go after a disappointing Christmas shopping season.

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    54. Pingback: America needs to start reform with getting rid of the "rubber rooms" as well. - Christian Forums

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